Real estate property prices are expected to keep their upward trend according to newdeal Academy report
Most property owners (51.98%) believe that a property with up to €300,000 price tag can be sold in 6 months.
42% of those who have a property for sale are optimistic about an upward trend in real estate prices, since they believe that real estate prices will continue their upward trend in the near future, according to a survey by the newdeal real estate Academy in collaboration with the Education Workshop and of Accounting Applications of the National Kapodistrian University of Athens (EKPA).
At the same time, however, other real estate owners are split between those who predict price stabilization (29.7%) or decline (27.72%) due to inflation, the energy crisis and higher mortgage rates.
"It is true that the real estate market keeps moving in the same as the recent pace, but this is explained by the fact that it does not directly react to negative events, as happens, for example, in the stock market", points out Stavroula Vamvaka, president of the newdeal real estate group network, referring to the results of the survey.
"It is something that is also confirmed by the data coming from the Bank of Greece for the second quarter of the year. Property prices not only did not decline, but on the contrary, the rate of their increase was impressively high (9.4%).
This performance, even if it is the best of the year, does not change the new reality and the dynamics in the market. After all, in times of inflation real estate has been a safe haven, according to the research.
In the same newdeal Academy's study was also examined the expected time for a sale to be completed. Most owners (51.98%) consider that a property worth up to 300,000 euros can be sold in 6 months. Some others that it takes a year (24.75%) and there are those who estimate that even more time is needed (16.83%).
But there are also the over-optimistic who believe that it will take a month (6.44%) The best average time to sell a property was in the pre-crisis period and was estimated at 3 months. For the crisis period it was more than 18 months.